How to Find GST Rates: GST Rates for Goods & Services

Find GST Rates: Knowing the correct GST rates are very crucial because when you use an incorrect rate it may lead to compliance issue. So in this article we will learn to know how to find the correct GST rates.

GST rates, or Goods and Services Tax rates, refer to the tax rates applied to different goods and services in a country. GST is a comprehensive indirect tax that replaces multiple taxes like excise duty, service tax, and even state-level taxes.

In simple language, GST rates are the percentages at which tax is levied on different products and services. These rates are categorized into different slabs such as 0%, 5%, 12%, 18%, and 28%. The applicable GST rate depends on the nature of the goods or services.

Let’s understand this with a few examples:

1. Example 1 – Exempted Goods: Some essential goods like fresh vegetables, food grains, and books have a 0% GST rate. This means they are exempted from any GST tax.
2. Example 2 – Basic Necessities: Goods like milk, bread, and cereals fall under the 5% GST slab. These are considered basic necessities and are taxed at a lower rate.
3. Example 3 – Standard Goods and Services: Most goods and services fall under the 18% GST slab. This includes items like electronic gadgets, processed food, and hotel accommodation.
4. Example 4 – Luxury Goods: Luxury items like high-end cars, jewelry, and perfumes usually attract a higher GST rate of 28%. This is because they are considered non-essential or luxury goods.

It’s important to find and use the correct GST rates while selling or purchasing goods and services. You can visit the official website of the Central Board of Indirect Taxes and Customs (CBIC) or consult a GST consultant to find the accurate rates for specific goods or services.

Remember, being aware of the correct GST rates ensures compliance with tax regulations and avoids any legal issues.

Steps to Find GST Rates:

So to find the correct rate you need to google it.

1. “Find GST Rates” at website CBIC

2. Now you need to visit “CBIC site ” this will be visible as shown below:

3. Now you can search GST rates for goods or services for example you can select goods and in the description you can search milk you will find the rates related to the milk and their types

In the same way you can search for services HSN: click on services then search any services you will get the details

Watch Video to find GST Rates

In this video we will see how you can find correct GST rates for goods or services. To find the correct gst rates simply you need to visit the CBIC portal and search for goods or services you are providing to your clients.

One thing also to note that you should also ask from your GST consultants that whether you are using correct rate or not and confirm the HSN code for both goods and services because now it is also mandatory to show correct HSN in GST returns.

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